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Teck Resources Ltd (TECK) Stock Sinks As Market Gains: What You Should Know
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Teck Resources Ltd (TECK - Free Report) closed the most recent trading day at $41.34, moving -0.74% from the previous trading session. This change lagged the S&P 500's 0.25% gain on the day. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq added 7.26%.
Coming into today, shares of the company had gained 9.46% in the past month. In that same time, the Basic Materials sector gained 10.34%, while the S&P 500 gained 5.73%.
Investors will be hoping for strength from Teck Resources Ltd as it approaches its next earnings release. The company is expected to report EPS of $0.94, down 53.47% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.58 billion, down 26.17% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Teck Resources Ltd. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.84% higher within the past month. Teck Resources Ltd is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Teck Resources Ltd has a Forward P/E ratio of 9.78 right now. Its industry sports an average Forward P/E of 11.79, so we one might conclude that Teck Resources Ltd is trading at a discount comparatively.
We can also see that TECK currently has a PEG ratio of 1.65. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Miscellaneous was holding an average PEG ratio of 1.97 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TECK in the coming trading sessions, be sure to utilize Zacks.com.
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Teck Resources Ltd (TECK) Stock Sinks As Market Gains: What You Should Know
Teck Resources Ltd (TECK - Free Report) closed the most recent trading day at $41.34, moving -0.74% from the previous trading session. This change lagged the S&P 500's 0.25% gain on the day. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq added 7.26%.
Coming into today, shares of the company had gained 9.46% in the past month. In that same time, the Basic Materials sector gained 10.34%, while the S&P 500 gained 5.73%.
Investors will be hoping for strength from Teck Resources Ltd as it approaches its next earnings release. The company is expected to report EPS of $0.94, down 53.47% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.58 billion, down 26.17% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Teck Resources Ltd. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 7.84% higher within the past month. Teck Resources Ltd is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Teck Resources Ltd has a Forward P/E ratio of 9.78 right now. Its industry sports an average Forward P/E of 11.79, so we one might conclude that Teck Resources Ltd is trading at a discount comparatively.
We can also see that TECK currently has a PEG ratio of 1.65. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Mining - Miscellaneous was holding an average PEG ratio of 1.97 at yesterday's closing price.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TECK in the coming trading sessions, be sure to utilize Zacks.com.